TMI BlogCentral Government, having regard to the practices and usages customary among banking companies and to other relevant factorsX X X X Extracts X X X X X X X X Extracts X X X X ..... In exercise of the powers conferred by sub-section (2) of section 138 of the Income-tax Act, 1961 (43 of 1961), (hereinafter referred to as the Act), the Central Government, having regard to the practices and usages customary among banking companies and to other relevant factors, hereby directs that no public servant shall--- ( i ) furnish any information contained in any statement made, retur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... luding the production of such document or record)---- ( i ) for purpose of a prosecution for any offence under the Indian Penal Code in respect of any such statement, return, accounts, documents, evidence, affidavit or deposition or for the purpose of a prosecution for any offence under the Act; or ( ii ) to any person acting in the execution of the Act, where it is necessary or desirable to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tistics of international investment and balance of payments ; or ( vii ) to an authorised officer of the Government of any country outside India for the granting of relief in respect of, or for the avoidance of, double taxation as may be necessary for the purposes of section 90 of the Act ; or ( viii ) where the disclosure is occasioned by the lawful exercise by any public servant of his pow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Income-tax Department, to any person appointed Commissioner under the Public Servants (Inquiries) Act, 1850 (37 of 1850), or to an officer otherwise appointed to hold such inquiry, or to a Public Service Commission established under the Constitution, when exercising its functions in relation to any matter arising out of any such inquiry, or to a Court in connection with the prosecution aris ..... X X X X Extracts X X X X X X X X Extracts X X X X
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